Gold edges down on firmer greenback

Gold edges down on firmer greenback

On Friday, gold slumped because the evergreen buck rebounded from earlier dives.

April delivery gold futures tumbled 0.29% in New York showing an outcome of $1,328.80 per troy ounce. Gold found itself on track to conclude the trading week with its biggest weekly descend since December 2017.

 Gauging the US dollar versus a group of key currencies, the US dollar index hit 89.78, soaring 0.13%, although drifting away from an eight-day maximum above the 90 mark reached yesterday.

On Wednesday, American treasury 10-year note revenues tacked on to 2.957%, which is its four-year maximum, before diving to 2.904% on Thursday and shifting to 2.928% on Friday.

On Thursday, St Louis Fed President James Bullard drew attention to the fact that too many rate lifts in 2018 would potentially restrain economic surge. Aside from that he added that he didn’t expect the everlasting tendency of below-target inflation to become different quickly.

As an asset, the number one precious metal has always responded to any moves in the greenback as well as US interest rates. If the evergreen buck goes down, gold becomes cheaper for keepers of foreign currency. On the contrary, a dive in American bond revenues restricts the opportunity cost of keeping non-profit assets, including bullion.   

As for Asian equities, on Friday they demonstrated quite mixed performance, concluding the trading week on rather a positive note. It’s because the Dowand the S&P 500 managed to have some of its midweek pullback reversed.

In Hong Kong the Hang Seng Index kept going up in the morning, although it gave back some of its revenues later, edging up 0.71%. As for mainland Chinese markets, they happened to be the underperformers in Asia, with Shanghai Composite as well as Shenzhen Component heading south respectively 0.15% and 0.31%.



WTI oil: too much for bulls?
WTI oil: too much for bulls?

Oil plunged several percent on Thursday. They say, the bullish rally was just too aggressive. Let's trade the dip then!

Bitcoin crosses $50,000!
Bitcoin crosses $50,000!

Another all-time high has juts been reached by the famous crypto asset. What next? $100,000?

Latest news

Stocks that make news this week
Stocks that make news this week

Check our story about the stocks that have the potential to go either up or down big time! In this article, we'll tell you about Nvidia, Apple, Philip Morris, and Coinbase.

Deposit with your local payment systems

Learn more

Data collection notice

FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.


A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Next callback request for this phone number
will be available in 00:30:00

If you have an urgent issue please contact us via
Live chat

Internal error. Please try again later

Don’t waste your time – keep track of how NFP affects the US dollar and profit!

Beginner Forex book

Beginner Forex book will guide you through the world of trading.

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera